Berkley launches cyber risk solutions unit

W.R. Berkley Corp. on Friday said it has formed Berkley Cyber Risk Solutions, which will be headed by Tracey Vispoli.

The Greenwich, Connecticut-based company said the unit will focus on insurance and risk management products that respond to organization’s changing cyber security vulnerabilities around the world.  It said it will offer specialty commercial insurance coverages on a worldwide basis to clients of all sizes on behalf of the W.R. Berkley Insurance Group.

Ms. Vispoli, who will be president of the unit, most recently served as senior vice president and global segment leader for a unit of Chubb Ltd.

Ms. Vispoli “is a pioneer in the cyber insurance space with a wealth of expertise in cyber security related issues. This will enable us to be on the forefront of providing effective solutions for this continually evolving risk. Demand for such solutions is increasing rapidly in every corner of the market, and the coverages offered by this new unit will enhance the suite of products available to our clients,” Berkley President and CEO W. Robert Berkley Jr. said in a statement.